VanEck Intermediate Muni ETF (BATS:ITM) Shares Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its stake in shares of VanEck Intermediate Muni ETF (BATS:ITM) by 10.3% in the first quarter, HoldingsChannel reports. The firm owned 57,568 shares of the company’s stock after purchasing an additional 5,361 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in VanEck Intermediate Muni ETF were worth $2,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. acquired a new position in VanEck Intermediate Muni ETF during the 4th quarter worth $29,000. Blue Trust Inc. acquired a new position in VanEck Intermediate Muni ETF during the 4th quarter worth $35,000. First Horizon Advisors Inc. bought a new stake in shares of VanEck Intermediate Muni ETF in the 4th quarter worth $52,000. Regent Peak Wealth Advisors LLC bought a new stake in shares of VanEck Intermediate Muni ETF in the 4th quarter worth $203,000. Finally, Global Retirement Partners LLC raised its stake in shares of VanEck Intermediate Muni ETF by 101.4% in the 4th quarter. Global Retirement Partners LLC now owns 5,144 shares of the company’s stock worth $240,000 after buying an additional 2,590 shares in the last quarter.

VanEck Intermediate Muni ETF Stock Performance

ITM opened at $45.96 on Friday. The stock has a 50 day moving average price of $45.85 and a two-hundred day moving average price of $46.29.

VanEck Intermediate Muni ETF Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, July 1st will be paid a $0.1023 dividend. The ex-dividend date of this dividend is Monday, July 1st.

About VanEck Intermediate Muni ETF

The VanEck Intermediate Muni ETF (ITM) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market value-weighted index of investment grade, tax-exempt US municipal bonds with nominal maturities of 6-17 years. ITM was launched on Dec 4, 2007 and is managed by VanEck.